The Dubai Police said it discovered that fraud amounting to 1.6 billion Dirham (N168 billion) had been committed by the alleged fraudulent gang led by Hushpuppi.
Ramon Abbas aka Hushpuppi, an alleged international fraudster, has pleaded guilty to a money laundering charge brought against him by the United States District Court for the Central District Of California.
Hushpuppi, in a document by the court, pleaded to be guilty of money laundering as charged.
Reports said the document was signed by Hushpuppi; his lawyer, Loius Shapiro; Acting United States Attorney, Tracy Wilkison, and others.
According to the document, Hushpuppi risks “20 years’ imprisonment; a 3-year period of supervised release; a fine of $500,000 or twice the gross gain or gross loss resulting from the offence”.
Hushpuppi, 37-year-old, was arrested in Dubai in June 2020 alongside 12 other members of his syndicate.
The Dubai Police said it discovered that fraud amounting to 1.6 billion Dirham (N168 billion) had been committed by the alleged fraudulent gang.
About 1,926,400 people from different parts of the world were declared to have fallen victims to the suspects.
Also,13 luxury cars, estimated at 35 million Dirham (N3.7 billion) were recovered from the house where they were arrested, according to the police,
Hushpuppi and his conspirators were subsequently handed over to the FBI and they have all since been arraigned on charges of conspiracy to commit money laundering, among other scams.
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